Atlas Lithium (NASDAQ:ATLX) CFO Tiago Miranda Sells 5,831 Shares

Atlas Lithium Corporation (NASDAQ:ATLX) CFO Tiago Miranda sold 5,831 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $5.03, for a total value of $29,329.93. Following the completion of the sale, the chief financial officer directly owned 30,000 shares of the company’s stock, valued at $150,900. This represents a 16.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Tiago Miranda also recently made the following trade(s):

• On Thursday, April 16th, Tiago Miranda sold 4,400 shares of Atlas Lithium stock. The shares were sold at an average price of $5.00, for a total value of $22,000.00.

Atlas Lithium Price Performance

ATLX opened at $5.06 on Tuesday. The business has a 50 day simple moving average of $4.73 and a 200-day simple moving average of $4.98. The stock has a market capitalization of $140.52 million, a P/E ratio of -3.22 and a beta of -0.40. Atlas Lithium Corporation has a 12 month low of $3.60 and a 12 month high of $8.25.

Atlas Lithium (NASDAQ:ATLX) last posted its quarterly earnings results on Wednesday, March 4th. The company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.64) by $0.28. The business had revenue of $0.04 million during the quarter, compared to analyst estimates of $42.90 million. Research analysts anticipate that Atlas Lithium Corporation will post -0.23 EPS for the current year.

Institutional Investors Weigh In On Atlas Lithium

Several institutional investors and hedge funds have recently made changes to their positions in the business. Invesco Ltd. boosted its position in shares of Atlas Lithium by 48.3% in the 4th quarter. Invesco Ltd. now owns 758,138 shares of the company’s stock worth $3,207,000 after buying an additional 247,064 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Atlas Lithium by 2.0% in the 4th quarter. Marshall Wace LLP now owns 614,259 shares of the company’s stock worth $2,598,000 after buying an additional 12,169 shares in the last quarter. Cross Staff Investments Inc boosted its position in shares of Atlas Lithium by 2.2% in the 3rd quarter. Cross Staff Investments Inc now owns 565,618 shares of the company’s stock worth $2,692,000 after buying an additional 12,000 shares in the last quarter. Weiss Asset Management LP purchased a new stake in shares of Atlas Lithium in the 4th quarter worth about $1,107,000. Finally, Connective Capital Management LLC purchased a new stake in shares of Atlas Lithium in the 3rd quarter worth about $405,000. 18.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Zacks Research upgraded shares of Atlas Lithium to a “hold” rating in a report on Thursday, February 5th. Wall Street Zen upgraded shares of Atlas Lithium from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Atlas Lithium in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $12.00.

Atlas Lithium Company Profile

Atlas Lithium Corporation operates as a mineral exploration and development company in Brazil. It operates the Minas Gerais lithium project that consists of 54 mineral rights covering an area of 59,275 acres located within the Brazilian Eastern Pegmatitic Province; and Northeastern Brazil lithium project, which consists of 7 mineral rights covering an area of 16,266 acres in the States of Paraíba and Rio Grande do Norte in northeastern Brazil. The company also owns 100% interests in various mining concessions for gold, diamond, and industrial sand; and early-stage projects and properties in other minerals, such as nickel, copper, rare earths, graphite, and titanium; as well as participates in iron and quartzite projects.